Anti-Corruption Summit in London

BMI SYSTEM’s Statement for the Leaders’ Anti-Corruption Manifesto

On May 12th, 2016, governments were invited to the London Anti-Corruption Summit on the basis of their public and in-practice commitment to addressing corruption.

What is the London Anti-Corruption Summit?

It is a unique event, which brings together government leaders to discuss a range of facets of corruption and aims to improve the international response to corruption. Approximately 20 government leaders participated, with many other governments represented at a level below Heads of Government.

The purpose of the London Anti-Corruption Summit is to discuss the following topics:

Preventing corruption and providing a level playing field

Encourage transparency and openness in governments and in procurement

Make it harder to hide, transfer and benefit from the proceeds of corruption by championing full corporate beneficial ownership information transparency

Support the international Open Government Partnership process

Bring accountability to the governance of sports federations

Ending impunity for corruption

Enforce anti-corruption laws consistently and fairly around the world

Implement and improve standards to prevent money laundering and to recover stolen assets

Improve the way law enforcement agencies in key countries and between banks, business, civil society share and act on intelligence related to risks and suspicions of corruption

Adopt more consistent visa denial and asset recovery processes for those involved in grand corruption, but where no domestic convictions are plausible

Empowering and supporting citizens to seek justice

Promote accountability in government and civic participation, including through better publicly available data

Support citizens to report corruption and protect whistleblowers

From the Anti-Corruption Summit to the Leaders’ Anti-Corruption Manifesto

This event inspired several organizations to come together and create an anti-corruption manifesto, giving compelling reasons about why the Heads of Government coming to this summit should act now, in order for the event to be a success and to have a real impact.

The Leader’s Anti-Corruption Manifesto is a collaborative project between Transparency International, The B Team, Thomson Reuters, the Global Organisation of Parliamentarians Against Corruption, the ONE campaign and the Commonwealth Enterprise and Investment Council.

“Reducing levels of corruption creates a better investment climate for business, restores trust in governments and provides security, prosperity and justice for citizens”

This project is organized through the partnership committee of the ‘Tackling Corruption Together’ Conference, a major business and civil society conference held in Marlborough House in London on 11 May 2016, immediately preceding the 2016 London Anti-Corruption Summit.

It represents a unique and diverse collection of statements from over fifty international leaders in business and civil society on what world leaders should aspire to achieve at the Anti-Corruption Summit in London.

BMI SYSTEM has been identified by Transparency International as an expert in transparency for the life sciences industry. Therefore, Laurent Clerc, BMI SYSTEM’s Pharmaceutical Compliance & Transparency Expert, has been invited to contribute to this Manifesto and write a statement on anti-corruption in this industry.

BMI SYSTEM’s Statement: What We Can Learn from Anti-corruption and Prevention of Conflict of Interest in the Life Sciences Industry?

Transparency International UK has identified several risk factors linked to corruption, to which the life sciences industry is particularly exposed.

This industry is challenged by the increasing importance of R&D investments that make the temptation even greater to spend money on physicians to influence their prescriptions. Moreover, the privileged relationship between reps and healthcare professionals present opportunities for conflicts of interest and corruption.

Is the risk worth the tarnished reputation of companies when we think about the recent scandals that have transpired?

For this reason several countries (USA, EU, AUS, JPN, etc.) have implemented transparency rules for the public disclosure of transfers of value in this industry. The Pharmaceutical Industry is one of the first industries to disclose all financial transactions with stakeholders to the public.

What can we learn from transparency, anti-corruption and conflict of interest policies in the pharmaceutical industry?

First, that it is important to track all financial transactions between “clients” and stakeholders in order to make this information publicly available. The disclosure of this type of information leads to better financial structures within businesses and to the definition of Fair Market Values.

Second, that there is a need for transparency both at local and at global levels for companies operating in global markets. Anti-corruption and conflict of interest policies must reflect the context of the local business environment and local corruption challenges.

Third, that it is necessary to implement internal approval systems for any financial interaction between clients and suppliers. It is essential that these processes cover the entire cycle ranging from an expenditure request through to the completion and tracking of all transactions.

Finally, the implementation of such processes allows for the collection and analysis of a large amount of information that should be used to generate quality indicators and alerts to identify potentially risky situations.

The implementation of these measures requires a strong effort from companies and require global businesses to cooperate and communicate at all levels. This highlights the issue of homogenizing IT systems within the different entities of a company as well as with external partners. On top of this, the implementation of a transparency system requires an in depth knowledge of local contexts and regulations.

Reinforced anti-corruption policies such as public disclosure of transfer of values should be extended to industries dealing with public health as well as industries where public funds are in play. This being said, the standards for corruption prevention may vary depending on the type of activity.